Cloud Providers Are Investing in Financial Services | Volante

Why It Matters

By turning payments into a cloud‑based service, banks can cut costs, scale instantly and meet stringent regulatory and security standards, reshaping the competitive landscape of global finance.

Key Takeaways

• Cloud adoption turns payments into OPEX, reducing capital spend.
• Real‑time payments, open banking, and ISO standards converge globally.
• Cloud providers invest heavily in security and 99.9997% availability.
• Banks favor incremental, modular modernization over monolithic system replacements.
• Trusted partners are essential for successful payments transformation journeys.

Summary

The video outlines how cloud providers are increasingly targeting the financial‑services sector, with banks shifting payments infrastructure to a cloud‑based, OPEX model.

Nadish highlights the convergence of ISO 20022, open‑banking directives (PSD2/3) and mandated real‑time payments across regions such as the UK, Nordics and South Africa. This regulatory push, combined with pandemic‑driven cashless adoption, is accelerating cloud migration, allowing banks to pay only for usage and to meet 24/7 availability requirements.

He notes that cloud vendors are pouring billions into security, multi‑region active‑active architectures and 99.9997 % uptime guarantees—capabilities no single bank could afford alone. Volante’s own strategy emphasizes incremental, modular upgrades rather than wholesale “rip‑and‑replace” projects, and stresses the need for a trusted technology partner.

The result is faster innovation cycles, lower capital outlays and greater resilience for financial institutions, while regulators gain a more standardized, auditable payments ecosystem.

Original Description

How are cloud providers investing in financial services, and what does it mean for the future of banking?

At Money20/20 Europe 2024, we spoke with Nadish Lad from Volante Technologies to discuss the rapid pace of payments modernization across EMEA.

From ISO 20022 and real-time payments to Open Banking and cloud-native infrastructure, this conversation explores how banks are modernizing payment systems and adapting to a rapidly changing financial landscape.

In this interview, discover:

• Why the UK and EU are leading payments modernization

• How Open Banking, APIs, and SEPA Instant are transforming payments

• Why cloud adoption is accelerating in financial services

• The impact of cloud-based payments infrastructure in emerging markets like South Africa

• How cloud improves security, compliance, and operational flexibility for banks

• Why banks should avoid large-scale “big bang” transformations and modernize incrementally

Nadish Lad also shares practical advice for banks navigating legacy systems, explaining why choosing the right modernization partner is essential for long-term success.

As real-time payments and cloud-native banking continue to grow, the shift from legacy infrastructure to scalable, secure systems is becoming increasingly critical for financial institutions worldwide.

Watch more interviews from Money20/20 Europe : https://ffnews.com/fintech-tv/event/2024/money20-20-europe-2024/cloud-providers-are-investing-in-financial-services-volante-money20-20-europe/

@Money2020Tv @VolanteTechnologies